Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Spring Storms Rack Up More than $1.5B in Losses in Texas
Dec 7 2015 // Storms during April and May in Texas caused more than $1.5 billion in property losses, according to the Insurance Council of Texas. ICT spokesman Mark Hanna says paid residential property losses in April and May were close...
Florida Issues Final Order for NCCI to Decrease Workers’ Comp Rates by 4.7%
Dec 7 2015 // The Florida Office of Insurance Regulation (OIR) has approved an overall decrease of 4.7 percent in workers’ compensation insurance rates in Florida. Following the disapproval of its original rate filing request, the...
Report: Southeast States Not Prepared for Future Risks from Climate Change
Dec 7 2015 // Many states across the country, particularly in the Southeast, are unprepared to face the risks posed from extreme heat, drought, wildfires, inland flooding, coastal flooding and other extreme weather events, according to...
Cyber Insurance Rates Up, Unlike Other Commercial Rates
Dec 3 2015 // Cyber insurance stood out in the third quarter as the only line for which insurers saw consistent and large rate increases, which averaged more than 15 percent in the United States, according to the latest analysis from...
Workers’ Comp Rates in Washington to Increase 2% In 2016
Dec 2 2015 // The average base rate Washington businesses pay for workers’ compensation insurance will increase by 2 percent in 2016, the state Department of Labor & Industries announced. L&I uses wage inflation as a...
ACE Announces Future Leadership Team for Global Surety Business Unit
Dec 2 2015 // ACE Ltd. announced the leadership team it has appointed for the company’s Global Surety business unit, which will take effect upon completion of the acquisition of Chubb, expected in the first quarter of 2016. As...
Why Wage and Hour Claims Keep Rising
Dec 2 2015 // This was another historic year for federal wage and hour lawsuits. Using data obtained from the Federal Judicial Center, law firm Seyfarth Shaw LLP reported that 8,781 cases were filed in 2015 under the Fair Labor...
Lloyd’s Syndicates Join Forces to Help Emerging Markets Build Nat Cat Resilience
Nov 30 2015 // Eight Lloyd’s syndicates are joining forces to develop new solutions to help developing economies tackle underinsurance and improve their resilience against the economic impact of natural catastrophes. Emerging...
Virginia Approves 3.4% Overall Increase in Workers’ Comp Loss Costs
Nov 25 2015 // The Virginia State Corporation Commission (SCC) announced Tuesday the approval of revisions to the premium levels charged for workers’ compensation insurance in Virginia. The revisions will result in an overall...
A.M. Best: Outlook Stable for Missouri Valley Mutual Insurance
Nov 25 2015 // A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” of Missouri Valley Mutual Insurance Co. (Missouri Valley)...
Emerging Markets Are Growth Engines for Re/Insurance Industry: Swiss Re Report
Nov 25 2015 // The global economy is expected to strengthen moderately next year, which will support insurance premium growth in most regions, according to Swiss Re’s latest publication titled “Global insurance review 2015...
ACE Appoints Future Leadership Team for Chubb Group’s Latin America Region
Nov 25 2015 // ACE Ltd. announced the leadership team it intends to appoint for the Latin America region of the new Chubb Group’s Overseas General Insurance division, which includes Argentina, Brazil, Chile, Colombia, Ecuador,...
A.M. Best: Outlook Improved for 2 Kansas Mutual Insurers
Nov 24 2015 // A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of B++ (Good) and the issuer credit rating of “bbb” of Bremen Farmers Mutual Insurance Co. (Bremen) in...
Allianz Aims to Increase Premiums by $6.9 Billion Annually
Nov 24 2015 // Allianz SE, Europe’s largest insurer, aims to generate an additional 6.5 billion euros ($6.9 billion) in annual premiums as the company focuses on its most profitable businesses. Allianz wants to achieve annual...
Weather-Related Disasters Occurred Almost Daily in Past Decade: U.N. Report
Nov 24 2015 // Weather related disasters such as floods and heatwaves have occurred almost daily in the past decade, almost twice as often as two decades ago, with Asia being the hardest hit region, a U.N. report said on Monday. While...
U.K. MGAs Seek Greater Role in Claims Process: MGAA Matters Survey
Nov 23 2015 // Managing general agents are keen to be more involved in the claims process because they view claims as a core competence with an intrinsic link to underwriting, according to the latest MGAA Matters Survey.* The fourth...
London Insurance Market Vulnerable to Major Cyber Attack: Xchanging Survey
Nov 23 2015 // Only one-third of insurers in the London market believes their firm could withstand a major cyber attack, and almost half felt they were underprepared, according to a survey conducted by Xchanging plc, the U.K. business...
ACE Names Future Leadership Team for Overseas General Insurance Operations
Nov 23 2015 // ACE Ltd. announced the senior leadership team it intends to appoint for the new Chubb Group’s Overseas General Insurance division. This division comprises two major businesses: one with distribution through retail...
ACE Makes Future Leadership Appointments for APAC Region
Nov 23 2015 // ACE Ltd. announced key leaders it intends to appoint for the Asia Pacific region of the new Chubb Group’s Overseas General Insurance division, which includes Australia, China, Hong Kong, Indonesia, Korea, Macao,...
A.M. Best Revises Outlook to Positive for Aspen and Its Subsidiaries
Nov 19 2015 // A.M. Besthas revised the outlook for the issuer credit ratings (ICR) to positive from stable and affirmed the financial strength rating (FSR) of “A” (Excellent) and the ICRs of “a” of Aspen...
